Company Update (NYSE:LMT): Lockheed Martin Corporation Awarded JCSAT-17 Satellite Contract From SKY Perfect JSAT Corporation

Lockheed Martin Corporation (NYSE:LMT), a a contract for JCSAT-17, a satellite based on the A2100 common design.

“We’ve built a number of satellites for SJC and we’re honored that they have placed their trust in us again,” said Carl Marchetto, vice president and general manager of Commercial Space at Lockheed Martin Space Systems. “And with the sale of an additional A2100, it adds yet another satellite to our healthy backlog.”

JCSAT-17 is an S band satellite that will operate well in excess of 15 years. The satellite will include a flexible processor that will allow SJC to redirect capacity to concentrate on disaster relief efforts or other high-volume events.

JCSAT-17 is the eighth satellite SJC has awarded to Lockheed Martin, beginning with NSAT-110, JCSAT-9 through JCSAT-13 and most recently JCSAT-110R. The satellite will be manufactured in Denver, Colorado and delivered in 2019.

The modernized A2100 is built on a flight-proven bus that is the foundation for more than 40 satellites in orbit today. Through an internally funded, multiyear modernization effort, Lockheed Martin enhanced the spacecraft’s power, propulsion and electronics, while also adopting the latest advanced manufacturing techniques to decrease production costs and timelines. (Original Source)

Shares of Lockheed Martin closed yesterday at $210.45. LMT has a 1-year high of $227.91 and a 1-year low of $181.91. The stock’s 50-day moving average is $214.42 and its 200-day moving average is $210.70.

On the ratings front, Lockheed Martin has been the subject of a number of recent research reports. In a report issued on January 27, RBC analyst Robert Stallard reiterated a Buy rating on LMT, with a price target of $244, which implies an upside of 15.9% from current levels. Separately, on December 30, Drexel Hamilton’s Peter Skibitski maintained a Buy rating on the stock and has a price target of $229.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Robert Stallard and Peter Skibitski have a total average return of 4.7% and 10.8% respectively. Stallard has a success rate of 56.7% and is ranked #468 out of 3600 analysts, while Skibitski has a success rate of 62.5% and is ranked #647.

Overall, one research analyst has rated the stock with a Sell rating, one research analyst has assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $228.25 which is 8.5% above where the stock closed yesterday.

Lockheed Martin Corp is a security and aerospace company. The Company is engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.


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